MGTA01H3 Chapter 7: Chapter 7 Notes
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MGTA01H3 Full Course Notes
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The management process: management: the process of planning, organizing, leading, and controlling a business" financial, physical, human and information resources in order to achieve its goals. manager"s job: planning, organizing, leading and controlling: planning. that portion of a manager"s job concerned with determining what the business needs to do and the best way to achieve it. 5 basic steps for planning process: organizing. Managers identify whether a gap exists between goal and actual position. Managers develop plans to achieve the goal (how to get there) that portion of a manager"s job concerned with mobilizing the necessary resources to complete a particular task: leading. that portion of a manager"s job concerned with guiding and motivating employees to met the firm"s objectives. Teaching and demonstrating, leading by example: controlling. that portion of a manager"s job concerned with monitoring the firm"s performance and, acting to bring it in line with the firm"s goals.